Terpequreen483id
Answered

Mrs. Santos invested P 15 000 in the money market for 2 years. The yearly rate of interest was 12%. How much did the money earn in 2 years?

Sagot :

Mlcparra16id
The interest is computed as:
[tex]Interest=Principal*Rate*Time \\ =15000*0.12*2=3600[/tex]

Therefore the interest is P3600
Jers15id
To get the money she earned through interests,
P 15000 x 0.12=P 1800
That is the first year, since we need 2 years multiply P 1800 by 2
P 1800 x 2=P 3600

Hope this helps =)